Ambetter of Oklahoma Reduces Plan Premiums by 8%, Offering More Affordable Coverage to Oklahomans

Rhea-AI Summary

Ambetter of Oklahoma, a Centene product, has announced an 8% reduction in plan premiums for 2025, offering more affordable health insurance coverage to residents in 36 Oklahoma counties. The open enrollment period for the Health Insurance Marketplace runs from Nov. 1, 2024, to Jan. 15, 2025, with coverage starting Jan. 1, 2025, for those who enroll by Dec. 15, 2024.

Key offerings for 2025 include:

• Comprehensive coverage of essential health benefits
• Virtual 24/7 Care for telehealth services
• Convenient online enrollment process
• My Health Pays program with up to $500 in rewards
• Expanded Premier Network (formerly Ambetter Health Bronze|Silver|Gold network)

The company aims to improve member experiences by expanding its provider network and reducing insurance costs, making comprehensive coverage more accessible to Oklahomans.

Positive

• 8% reduction in plan premiums for 2025
• Expansion of coverage to 36 Oklahoma counties
• Introduction of Virtual 24/7 Care for telehealth services
• My Health Pays program offering up to $500 in rewards
• Expanded provider network rebranded as Premier Network

Negative

• None.

Insights

Financial Analyst

The 8% reduction in plan premiums by Ambetter of Oklahoma, a Centene subsidiary, is a strategic move that could have mixed implications for CNC's financial performance. On one hand, lower premiums may attract more customers, potentially increasing market share and total revenue. This could be particularly impactful given the expansion to 36 counties in Oklahoma.

However, the premium reduction may also compress profit margins in the short term. The key will be whether the increased volume can offset the lower per-customer revenue. The expansion of the provider network and the rebranding of the Ambetter Health network to "Premier Network" suggest investments in growth and quality, which could drive customer acquisition and retention.

The My Health Pays program, offering up to $500 in rewards, represents a customer engagement strategy that could improve health outcomes and reduce claims, potentially improving profitability in the long run. Overall, this move appears to be part of a broader strategy to gain market share in a competitive insurance landscape, with potential for long-term benefits if executed effectively.

Open Enrollment begins Nov. 1

OKLAHOMA CITY, Oct. 2, 2024 /PRNewswire/ -- Ambetter of Oklahoma, a product offered by a Centene Corporation (NYSE: CNC) company which provides insurance to under-insured and uninsured populations through the federal Health Insurance Marketplace®, announced today it will reduce plan premiums to residents in 36 counties in Oklahoma for 2025. Open enrollment for the Health Insurance Marketplace for Oklahoma runs from Nov. 1, 2024, through Jan. 15, 2025. Enroll by Dec. 15, 2024, for coverage starting Jan. 1, 2025.

"Ambetter of Oklahoma is focused on improving our members' experiences by expanding our provider network and bringing down the cost of insurance," said Plan President and CEO of Oklahoma Complete Health Clay Franklin. "By reducing our plan premiums by 8%, we are excited to offer Oklahomans access to affordable and comprehensive coverage."

Ambetter of Oklahoma offers its members access to quality care, convenient services, and valuable rewards. 2025 benefits and offerings include: 

• Affordable and Reliable Coverage
  Ambetter of Oklahoma provides coverage of all essential health benefits, including preventive and wellness services, maternity and newborn care, pediatric services, mental health services, hospitalizations and prescription drug coverage. Some plans also include dental and vision coverage.

• Virtual 24/7 Care
  Virtual 24/7 Care offers members an Ambetter-designated licensed provider via telehealth for members to access care for illnesses such as flu, skin conditions, ear infections, fever and respiratory infections – all from the comfort of their home.

• Convenient Online Enrollment
  Through the Ambetter of Oklahoma website, people can browse and compare coverage options, determine their eligibility for financial subsidies, and directly enroll in coverage – all in one. The platform is accessible through mobile devices, so people can enroll using smartphones. If a person is unable to complete enrollment all at once, the system will save progress and provide reminders to finish enrollment.

• My Health Pays
  Members have access to the My Health Pays® program, where they can earn points for practicing healthy eating habits, staying active and leading a healthy lifestyle. Through the program, members can complete health-related activities and challenges, and can earn up to $500 in rewards in 2025. These rewards can be used for health-related expenses such as copays and deductibles. My Health Pays also allows members to set and reach health goals at their own pace by providing seasonal suggestions for activities and guidance to help stay on track.

• Premier Network
  Beginning Jan. 1, 2025, the Ambetter Health Bronze|Silver|Gold network will become known as the Premier Network. Members can continue to rely on the same provider network with the doctors and hospitals they know and trust.

Below is the full list of counties in which Ambetter of Oklahoma will be offered: 

• Alfalfa
• Caddo
• Canadian
• Carter
• Cherokee
• Choctaw
• Cleveland
• Comanche
• Cotton
• Creek
• Garvin
• Grant
• Haskell
• Johnston
• Kingfisher
• Le Flore
• Lincoln
• Logan
• Love
• Major
• Mayes
• McClain
• McIntosh
• Muskogee
• Okfuskee
• Oklahoma
• Okmulgee
• Osage
• Payne
• Pontotoc
• Pottawatomie
• Pushmataha
• Rogers
• Seminole
• Sequoyah
• Tulsa

Oklahoma residents interested in learning more about Ambetter of Oklahoma or enrolling in a health plan during the open enrollment period may visit AmbetterofOklahoma.com.

About Ambetter of Oklahoma
Ambetter of Oklahoma serves under-insured and uninsured populations through the Federal Health Insurance Marketplace. Ambetter of Oklahoma is underwritten by Celtic Insurance Company, which is a Qualified Health Plan issuer in Oklahoma. For more information, visit ambetterhealth.com/en/ok/. This is a solicitation for insurance. For information on your right to receive an Ambetter of Oklahoma plan free of discrimination, or your right to receive language, auditory and/or visual assistance services, please visit ambetterhealth.com/en/ and scroll to the bottom of the page.

View original content:https://www.prnewswire.com/news-releases/ambetter-of-oklahoma-reduces-plan-premiums-by-8-offering-more-affordable-coverage-to-oklahomans-302264587.html

SOURCE Ambetter of Oklahoma

FAQ

When is the open enrollment period for Ambetter of Oklahoma in 2025?

The open enrollment period for Ambetter of Oklahoma runs from November 1, 2024, through January 15, 2025. To have coverage starting January 1, 2025, you must enroll by December 15, 2024.

How much has Ambetter of Oklahoma reduced its plan premiums for 2025?

Ambetter of Oklahoma has reduced its plan premiums by 8% for the 2025 coverage year.

What is the My Health Pays program offered by Ambetter of Oklahoma (CNC)?

My Health Pays is a rewards program where members can earn points for healthy activities. Members can earn up to $500 in rewards in 2025, which can be used for health-related expenses such as copays and deductibles.

How many counties in Oklahoma will Ambetter of Oklahoma (CNC) cover in 2025?

Ambetter of Oklahoma will offer coverage in 36 counties in Oklahoma for the 2025 plan year.